AN OVERVIEW OF MANAGEMENT, Summaries of Industrial management

Download AN OVERVIEW OF MANAGEMENT and more Summaries Industrial management in PDF only on Docsity! CHAPTER 1 - AN OVERVIEW OF MANAGEMENT 1 🍖 CHAPTER 1 - AN OVERVIEW OF MANAGEMENT What is Management? Organization Collections of ppl who work together and coordinate their actions to achieve a wide variety of goals Management The planning, organizing, leading, and controlling of human and other resources to achieve organizational goals effectively and efficiently Managers The people responsible for supervising the use Achieving High Performance Organizational Performance A measure of how efficiently and effectively managers use available resources to satisfy customers and achieve organizational goals E.g. ROA, ROE, Revenue, Sales, Profit Effectiveness Doing the right thing by those work tasks that help the organization reach its goals Possibly be effective but not efficient Outcomes Efficiency